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@Paytm UPI handles to be smoothly migrated from Paytm Payments Bank: RBI
NPCI asked to help Paytm app continue operations
The Reserve Bank of India (RBI) on Friday said Paytm’s Unified Payments Interface (UPI) handle, @paytm, would be smoothly migrated from Paytm Payments Bank to a set of newly identified banks to minimise disruptions after March 15.
The RBI has barred Paytm Payments Bank from accepting fresh credits in its customer accounts or mobile wallets after March 15. It has also ordered termination of nodal accounts of One 97 Communications Ltd (OCL) and Paytm Payments Services Ltd.
In the latest action, the RBI has advised the National Payments Corporation of India (NPCI) to consider the request of OCL, which owns the brand Paytm, to become a Third-Party Application Provider (TPAP) for continued UPI operation of the app.
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